Alberta has blown through $75 billion in financial assets since 2007/08.
The province's net government debt will climb to approximately $55 billion this year.
By 2022/23, the province will have accumulated an estimated $46.6 billion in net debt.
Alberta saw spending reductions of 20 per cent during the reforms of the 1990s.
Next year Alberta is expected to surpass B.C. in per-person debt.
The province closed out the decade with an estimated $36.6 billion in net debt.
Last year, the province ran a $6.7 billion operating deficit.